Deliveroo pulls out of Singapore after 10 years
[SINGAPORE] Food delivery platform Deliveroo is exiting the Singapore market after a decade, with the final day of service set to be Mar 4.
Parent company DoorDash said the decision is “not an indication of the business performance”. It will also be ceasing operations in Qatar, Japan and Uzbekistan across its Deliveroo and Wolt brands.
In a mobile notification sent to Singapore users on Wednesday (Feb 25), Deliveroo encouraged users to use any credit or gift cards by 3 pm on the final day of service.
DoorDash said the move followed a multi-month review of country-specific conditions and reflected a focus on the “clearest path to sustainable scale and long-term leadership”.
The company added it is also implementing limited operational changes in select locations, including investing in certain engineering roles in the UK.
DoorDash in May last year agreed to buy UK-based food-delivery platform Deliveroo for an equity value of about US$3.9 billion.
In a media release, it said it will begin an “orderly wind-down process in each country and will work closely with local teams and partners to support all involved parties.
DoorDash also said it does not expect these actions to materially impact its financial outlook and its previous guidance provided on Feb 18 is unchanged.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
